GF withdraws plan for share capital increase
This is an ad hoc announcement pursuant to Article 53 of the Listing Rules (LR) of the SIX Exchange Regulation AG.
The Board of Directors of Georg Fischer AG (“GF”) has decided not to undertake an increase of the share capital of GF.
With the publication of its voluntary recommended public cash tender offer for all shares in Finland-based Uponor on 12 June 2023, GF informed about the possibility to increase the share capital by utilizing its existing capital band through an Accelerated Book Building (ABB) process.
After careful considerations, the Board of Directors of GF has now decided to refrain from pursuing such a transaction.
As of 13 November 2023, GF has four divisions: GF Piping Systems, GF Uponor, GF Casting Solutions, and GF Machining Solutions. GF offers products and solutions that enable the safe transport of liquids and gases, as well as lightweight casting components and high-precision manufacturing technologies. As a sustainability and innovation leader, GF strives to achieve profitable growth while offering superior value to its customers for more than 200 years. Founded in 1802, the Corporation is headquartered in Switzerland and as of the end of 2022, it was present in 34 countries with 138 companies, 60 of which are production companies with 83 facilities. GF’s 15’207 employees worldwide generated sales of CHF 3’998 million in 2022.
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